We all heard the first exclusively Conservative budget for 19 years and, in our opinion, it was as much a political budgets as it was a financial budget.
The Chancellor, George Osborne had a tough act and did his best to demonstrate that work will be rewarded, however, it is likely that many will disagree with this. There probably hasn’t been a budget in history that hasn’t polarised opinion and yesterday’s budget appears to be no different.
Changes to inheritance tax, tax on insurance premiums and changes to the way in which dividend income is taxed could affect a significant amount of the population along with the continued signs of austerity, reflected in the tightening of benefits.
We have no political bias at Brighton Financial Ltd. Our responsibility to is deliver high quality advice to our clients based on their specific financial circumstances and the prevailing financial and economic landscape.
Yesterday’s budget has presented out clients with some significant planning opportunities and also some planning dangers. We will be considering what George Osborne has unleashed on the nation and applying it to the individual circumstances of our clients.